Connecticut State Employees Mortgage Rates, Fees & Info

Hartford, CT

LEI: 5493005H3NABV4GMAG85

Tax ID: 06-0663293

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Connecticut State Employees is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Connecticut State Employees has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, New Haven, Norwich, Worcester, and Torrington among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Connecticut State Employees has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
15 Year Conventional Refi 5.71% 2/19/24
15 Year Cash-out Refi 5.71% 2/19/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Connecticut State Employees Mortgage Calculator






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The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

485

Origination Dollar Volume (All Markets)

$66,025,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 296 $40,760,000 $137,703 $365 3.39%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 66 $8,660,000 $131,212 $374 3.56%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 51 $6,835,000 $134,020 $378 3.37%
WORCESTER, MA-CT (FHA|USDA|VA) 30 $3,500,000 $116,667 $356 3.37%
Torrington, CT (FHA|USDA|VA) 22 $3,170,000 $144,091 $388 3.48%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 19 $2,955,000 $155,526 $391 3.35%
Outside of Metro Areas 1 $145,000 $145,000 $498 2.55%
Connecticut State Employees's top markets include Hartford, New Haven, Norwich, Worcester, and Torrington among others.

Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 485 $66,025,000 $136,134 $369 3.41%

    For 2022, Connecticut State Employees's most frequently originated type of loan was Conventional, with 485 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 192 $32,810,000 $170,885 $381 3.22%
    Refi 166 $26,160,000 $157,590 $379 2.83%
    Home Improvement 75 $4,395,000 $58,600 $340 4.53%
    Other 52 $2,660,000 $51,154 $337 4.38%

    For 2022, Connecticut State Employees's most frequently cited loan purpose was Cash Out Refi, with 192 originations. The 2nd most popular reason was Refi, with 166 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 166 $25,110,000 $151,265 $379 3.36%
    20 Year 120 $24,170,000 $201,417 $397 3.46%
    10 Year 92 $9,350,000 $101,630 $352 3.56%
    Other 71 $6,175,000 $86,972 $352 3.08%
    5 Year 34 $1,130,000 $33,235 $314 3.78%
    3 Year 2 $90,000 $45,000 $283 3.43%

    For 2022, Connecticut State Employees's most frequently cited loan duration was 15 Year, with 166 originations. The 2nd most popular length was 20 Year, with 120 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 225 $38,435,000 $170,822
    3-4% 83 $12,975,000 $156,325
    4-5% 81 $5,195,000 $64,136
    <2.5% 50 $5,610,000 $112,200
    5-6% 36 $2,750,000 $76,389
    6-7% 10 $1,060,000 $106,000

    During 2022, Connecticut State Employees's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 201 $10,275,000 $51,119 $324 3.88%
    $100k-200k 156 $22,820,000 $146,282 $402 3.13%
    $200k-400k 127 $32,525,000 $256,102 $401 3.03%
    $400k-600k 1 $405,000 $405,000 $363 2.50%

    2022 saw Connecticut State Employees place emphasis on $100,000 or less loans with 201 originations, totaling $10,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 162 $23,600,000 $145,679 $368 3.41%
    $150k-250k 112 $15,350,000 $137,054 $373 3.54%
    $75k-100k 96 $12,860,000 $133,958 $375 3.36%
    $50k-75k 85 $10,035,000 $118,059 $366 3.42%
    $250k+ 16 $3,280,000 $205,000 $378 3.34%
    $50k or less 12 $620,000 $51,667 $316 2.85%

    Connecticut State Employees lent most frequently to those with incomes in the $100k-150k range, with 162 originations. The second most popular income band? $150k-250k, with 112 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 201 $27,775,000 $138,184 $367 3.51%
    <20% 183 $23,125,000 $126,366 $363 3.15%
    30-36% 91 $13,285,000 $145,989 $381 3.75%
    36% 8 $1,560,000 $195,000 $419 3.39%

    Connecticut State Employees lent most frequently to those with DTI ratios of 20-30%, with 201 originations. The next most common DTI ratio? <20%, with 183 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 410 $55,220,000 $134,683 $368 3.41%
    Black 53 $7,075,000 $133,491 $368 3.54%
    Asian 16 $2,600,000 $162,500 $395 3.28%
    American Indian 5 $935,000 $187,000 $398 3.02%
    Native Hawaiian or Islander 1 $195,000 $195,000 $438 2.55%

    Approval Rates

    Total approvals of all applications
    84.94%

    Connecticut State Employees has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    92.37%

    Connecticut State Employees has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 485 $66,025,000 $136,134

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    485 $66,025,000 $136,134

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 90 $9,420,000 $104,667 $362 3.39%
    40-60% 113 $20,005,000 $177,035 $393 2.98%
    60-80% 132 $29,300,000 $221,970 $398 3.08%
    80-100% 6 $1,150,000 $191,667 $390 2.88%
    Under 20% 144 $6,150,000 $42,708 $328 4.10%